Traveloka, Bank Mandiri launch co-branded credit card

Indonesian unicorn Traveloka announced that it has launched a co-branded credit card with local leading bank Bank Mandiri.

Photo credit: Traveloka

The Traveloka Mandiri Card, which is designed for modern Indonesian millennials, allows consumers to earn points from offline and online purchases, double their points whenever they book flights and hotels via Traveloka, and enjoy free travel insurance, among other benefits.

The card will be available to Indonesian consumers in the next few months, according to a statement. Users may file their application on Traveloka’s platforms.

With the partnership, Bank Mandiri expects to see a 20% increase in traveler financing composition and effectively boost its credit card business by 10% at the end of the year, Hery Gunardi, director of consumer and retail transactions at Bank Mandiri, said.

The bank reached 2 million credit card holders in 2019, with a financial transaction value of around US$3.1 billion, according to a statement. Travel-related transactions accounted for about 17% of the total transaction value.

Last year, Traveloka partnered with another local bank, Bank Rakyat Indonesia, to launch its PayLater Card.

With the card, consumers can pay for all Traveloka products and services. They can also use it for online and offline transactions at over 53 million merchants worldwide that accept Visa payments.

The collaboration aims to solve the pain points of customers who are often forced to book flights and hotels at the last minute due to a lack of credit access, Traveloka said.